OPEC is no stranger to exits. But UAE’s exit could mean a fundamental geopolitical shift in the Middle East (and the oil markets).
Data & financial journalist covering global economics and policy
OPEC is no stranger to exits. But UAE’s exit could mean a fundamental geopolitical shift in the Middle East (and the oil markets).
Over a quarter of global seaborne oil flows through the Strait of Hormuz—making Asia’s top economies especially vulnerable to any disruption.
Israel’s strikes on Iran’s strategic sites have sent Brent crude and gold prices sharply higher, while potential threats to Kharg Island and the Strait of Hormuz chokepoints could force shipping reroutes, risking wider global supply-chain disruptions.